Arch_Angel
July 16, 2004, 12:33 AM
A TRINIDAD and Tobago deal to ease the financial pain felt by its CARICOM neighbours because of skyrocketing oil prices is in the works.
With oil being traded on the world market at a five-week high of US$40.30 a barrel, Ken Valley, Trinidad and Tobago's Minister of Trade and Industry, said in New York that his country was planning to place a US$30 a barrel ceiling on the price to Caribbean neighbours, with any excess being converted into a long-term loan at low interest rates.
"Yes, there is a move afoot, either in place already or it would be in place shortly with respect to oil prices," he said in New York. "That's the initiative of Trinidad and Tobago in conjunction, I think, with the Venezuelans. More importantly, over the longer term, the intention is to build a natural gas pipeline through the islands, going as far as Guadeloupe so as to provide the critical infrastructure to allow for the attraction of industry to some of these islands," Valley said.
Read more... (http://www.jamaica-gleaner.com/gleaner/20040714/business/business6.html)
Boy, I have to hail up our neighbours Trinidad and Tobago for helping out with the increasing gas prices. Hopefully this will lower the gas prices somewhat and make it easier on our pockets. Big up Trinidad!!! :D
Did anyone know that Trinidad is one of the US main suppliers of oil?
With oil being traded on the world market at a five-week high of US$40.30 a barrel, Ken Valley, Trinidad and Tobago's Minister of Trade and Industry, said in New York that his country was planning to place a US$30 a barrel ceiling on the price to Caribbean neighbours, with any excess being converted into a long-term loan at low interest rates.
"Yes, there is a move afoot, either in place already or it would be in place shortly with respect to oil prices," he said in New York. "That's the initiative of Trinidad and Tobago in conjunction, I think, with the Venezuelans. More importantly, over the longer term, the intention is to build a natural gas pipeline through the islands, going as far as Guadeloupe so as to provide the critical infrastructure to allow for the attraction of industry to some of these islands," Valley said.
Read more... (http://www.jamaica-gleaner.com/gleaner/20040714/business/business6.html)
Boy, I have to hail up our neighbours Trinidad and Tobago for helping out with the increasing gas prices. Hopefully this will lower the gas prices somewhat and make it easier on our pockets. Big up Trinidad!!! :D
Did anyone know that Trinidad is one of the US main suppliers of oil?